Avalon Meta, an Indian-based startup that combines higher education and competitive gaming, has raised $420,000 led by Peerplays, a blockchain-based gaming company, in a strategic capacity along with Purvi Capital, a Chicago-based VC firm, and Abhinav Chhikara, the former Head of Design of edtech giant Unacademy.
Another one for 🇮🇳 💯👌#Blockchain #IndiaWantsCrypto [Funding alert] B2B startup Avalon Meta raises $420,000 led by Blockchain company Peerplays https://t.co/29mEZbwIUI — Vivek (@vivekomon) February 19, 2020
As it has been reported, Avalon Meta is run by Avalon Labs, a digital services company, which was founded in 2017 by Varun Mayya, Shashank Udupa, and Abhinav Arora.
It has been analyzed that Varun Mayya is also the co-author of Bloomsbury published Pyjama Profit. However, Jonathan Baha’i, the Founder of Peerplays, says:
“Peerplays has become the leading name in blockchain gaming worldwide.”
He also said that the company immediately recognized the truly visionary approach Avalon Meta was taking to disrupt education through gaming, all of it is powered by the Peerplays Blockchain. Varun Mayya, the CEO of Avalon Meta, says:
“Unlike the plethora of bootcamps out there, our thoughts are that education will eventually become commoditised and educational content will have an effective price of zero in the future. Most courses barely manage a five percent user retention, which is why we decided to turn higher education into a game. Not gamify an existing solution, but make a full-fledged, proper game.”
According to him, Peerplays has proved themselves to be a pioneer in blockchain-based gaming. He says that this makes the company just the right strategic partner to bring into Avalon.
<img width="1217" height="545" src="https://i2.wp.com/www.cryptonewspoint.com/wp-content/uploads/2020/02/0-1.jpg?fit=1024%2C459&ssl=1" alt="" class="wp-image-11160 lazyload" />
Image: linkedin.com
Mayya added:
“Their insight and strategic experience in the gaming space – they’ve already lived the big shift into livestream, digital assets, and more – is something that we think Indian investors will take some time warming up to.”
Thus, Avalon Labs, the parent company, is also investing up to $250,000 in a new business, as the founders are now focused on acquiring users this year, and want to offer gamified education as the future of learning.
Source: yourstory.com